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Off-balance-sheet Activities

9 Months Ended

Sep. 30, 2023

Note 5: Off-balance-sheet Activities

Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contracts are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.

A summary of the notional or contractual amounts of financial instruments with off-balance-sheet risk at the indicated dates is as follows:


	September 30,		December 31,
	2023		2022

	(In thousands)
Commercial loans unused lines of credit	$	92,083	$	79,718
Commitment to originate loans		89,514		77,889
Consumer open end lines of credit		37,371		37,600
Standby lines of credit		136		136

The Company adopted the provisions of ASC 326 and recognized an initial implementation amount of $224,000. During the nine months ended June 30, 2023, there was no change in the provision for credit expense for off balance sheet exposure.